Is it preferred to have different robo-advisors or concentrate on one given that there are charges for management and using the platforms. I am currently using StashAway and MoneyOwl?

StashAway and MoneyOwl have different investment strategies and underlying funds. If you want this balance, then stay with them.

I tried out various robos and I went with Endowus in the end.

Hi Anon,

Thank you for your question. It's is interesting because it's like asking should you eat at McDonald's or KFC, or should you eat some at one and some at the other with the same dollar amount you have. i.e. Spend $10 at one restaurant or spend $5 in each of the both restaurants to get your fast food fix. You are currently the latter.

Both restaurants offer delicious and convenient fast food but the types of fast food served is very different. Each has their signature and their fans. Are you satisfied with what McDonald's and KFC are offering you for the $10 spent? Or do you want to further split that $10 with a 3rd or 4th restaurant to get your fast food fix? It may not be advisable to do so. There is such a thing as over diversification.

Similarly, when thinking of using multiple robo advisors for your investments, you also have to think if it serves your objectives well. What is the objective of putting your monies across multiple robo advisors?​​​